Guaranteed Life time protection Plan

Guaranteed Life time protection PlanLiciukAdmin2018-01-03T19:39:01+00:00

Introduction

The Guaranteed Lifetime Protection Plan protects you for whole of your life. Your dependents receive a tax free cash lump sum on your death. You pay premium for the rest of your life, or up to your 80th birthday.

It is nomally used to:

provide a lump sum as financial security to dependents.

to help meet funeral expenses.

to provide for potential inheritance tax liabilities (if written into trust).

The GLPP can be written on a single or joint life (first death or second death).

While your original GLPP is in force, you will have the option to increase your guaranteed sum assured, on achievement of certain events in life, e.g., your marriage, house purchase or improvements, birth or adoption of a child, subject to certain conditions. This is known as the “Guaranteed Insurability Option”.

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Authorised and regulated by the Insurance Regulatory and Development Authority (IRDA) of India. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Financial services registration number 110379. LICI UK is a trading name of the Life Insurance Corporation of India which is registered in England and Wales, Company No FC005008.